New 3 analogs antilogs
This document discusses how entrepreneurs can use analogs and antilogs to help mitigate uncertainty when developing new business plans and ventures. It defines analogs as successful predecessor companies that aspects of their models can be borrowed or adapted from. Antilogs are defined as predecessor companies that entrepreneurs choose to do things differently from, often because some of what they did was unsuccessful. The document provides Starbucks as an example of a company that used both analogs and antilogs in developing their business model. It stresses the importance of identifying any leaps of faith or questions where analogs and antilogs do not provide answers, and using experimentation to test hypotheses before fully committing resources.
New 3 analogs antilogs
- 1. On Analogs and Antilogs in Innovation Ziya G. Boyacigiller This presentation was created and given by Ziya Boyacigiller who was leading Angel Investor and a loved mentor to many young entrepreneurs in Turkey. We have shared it on the web for everyones benefit. It is free to use but please cite Ziya Boyacigiller as the source when you use any part of this presentation. For more about Ziya Boyacigillers contributions to the start-up Ecosystem of Turkey, please go to www.ziyaboyacigiller.com
- 2. ON ANALOGS AND ANTILOGS IN INNOVATION Ziya G. Boyacigiller Sabanci University BA, MBA and EXEC MBA 2004 through 2013
- 3. ANALOGS AND ANTILOGS Entering an Existing Industry Ref: Getting to Plan B, J. Mullins / R. Komisar
- 4. The uncertainty that surrounds most innovations and most new ventures can be significantly mitigated by comparing the plan on the table to other businesses already in existence. UNCERTAINTY RULES
- 5. GOAL Discovering or developing a business plan that will work
- 6. THIS WONT HAPPEN BY DUPLICATING THE MODELS ALREADY IN EXISTENCE. IF THOSE ARE WORKING, WHO NEEDS YOU!
- 7. BUSINESS MODEL means the pattern of economic activity (cash flowing in and out of your business for various purposes and the timing thereof) that dictates whether or not you run out of cash and whether or not you deliver attractive PROFITS to your investors and yourself.
- 8. DONT REINVENT THE WHEEL: ANALOGS ANALOGS to your idea are successful predecessor companies that are worth mimicking in some way. There are many analogs out there, portions of which can be borrowed or adapted to help you understand the economics and various other facets of your proposed business and its business model.
- 9. "IMITATION IS THE SINCEREST FORM OF FLATTERY?
- 10. "IMITATION IS THE SINCEREST FORM OF FLATTERY?
- 11. BE DIFFERENT: ANTILOGS ANTILOGS are predecessor companies compared to which you explicitly choose to do things differently, perhaps because some of what they did has been unsuccessful.
- 12. STARBUCKS USES ANALOGS / ANTILOGS
- 13. LEAPS OF FAITH (京掘意皆)
- 14. OOPS!!!
- 15. ASK THE RIGHT QUESTIONS: LEAPS OF FAITH It is not what you know that will likely make you fail, it is what you dont know you dont know Identify the questions where analogs and antilogs dont provide the answers. The questions you cannot answer from historical precedent lead you to your leaps of faith beliefs you hold about the answers to your questions despite having no real evidence that these beliefs are actually true.
- 16. TEST EXPERIMENT Use your creativity and find a way to prove or disprove your hypothesis before you waste too much of your time or your money. TO TEST YOUR LEAPS OF FAITH YOU HAVE TO LEAP